Home Technology Ericsson in turmoil after suspicions of bribes paid to the Islamic State

Ericsson in turmoil after suspicions of bribes paid to the Islamic State

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The case is serious. On February 27, several press organs including Le Monde and the Guardian revealed following a long investigation that the Swedish giant Ericsson had multiplied acts of corruption, going so far as to pay bribes to the Islamic State. These revelations are largely based on an internal Ericsson report from 2019 that details the illicit practices of the Iraqi branch of the group. An anonymous source of course managed to send this report to the ICIJ (International Consortium of Investigative Journalists, in which several French newspapers participate) which then took on the task of making the case public.

From now on, the Swedish group must face the American Department of Justice, which considers that it was not correctly informed of these excesses (Ericsson had admitted not having left Mosul after the occupation of the city by the Islamic State in 2014) . Ericsson probably thought he was getting away with it after the payment of a billion dollars in exchange for the abandonment of the prosecution (for acts of corruption in China, Djibouti or Vietnam in particular), but these new revelations the cards widely and could cause the DoJ to be less conciliatory.

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The scandal is such that Erisson’s stock has plunged 30% since last Sunday’s revelations.

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